Credit Crisis Diary: 25/04/2009
Saturday 25 April 2009
A speedy U-turn from retailer Alexon
Goodness, 48 hours is a long time in the world of retail. On Wednesday, Bay Trading's parent company, Alexon, sounded confident in its latest trading statement: "New high fashion lines have been well received by customers and the fashion press and a revitalised image has been designed for Bay Trading reflecting its more fashionable proposition". So fashionable, in fact, that Alexon put the company into administration yesterday morning.
I'm Miles but you can call me Simon
Lord Taverne, and Miles Templeton enjoyed a spirited debate on yesterday's Today programme on Radio 4. Mr Templeton, director general of the Institute of Directors, got crosser and crosser as Lord Taverne explained why he is supporting moves to force companies to declare the difference between their best and worst-paid employees. It wasn't so much the argument that irritated the IoD man, but the fact that Lord Taverne kept addressing him as Simon.
The Post Office knows how to send bad news
A helpful missive from the Post Office arrives concerning its phone service. Entitled "We've been listening to what you've been saying", it explains in great detail a range of new services now on offer to customers. It's not until you get to the final paragraph of all the junk that the Post Office remembers to confess it is also whacking up charges by close to 10 per cent. Let's hope that what customers say next is they're not keen on higher bills being sneaked past them in this way.
The Bank of Essex opens its doors
We should – and do – support communities banding together to step in where the mega financial services companies have let them down. But with the best will in the world, it's difficult to suppress a smile when the triumphant announcement of the launch of the Bank of Essex arrives. Good luck to them.
A masterclass for would-be fat cats
Say what you like about the Americans, they do things properly. Chesapeake, the gas company, is facing a shareholder backlash after paying its chief executive a little over $100m last year. He also sold Chesapeake art he owned for $12m, has free use of its private jet service and the company spent $200,000 with a catering company he partly owns. Chesapeake even spends $3.5m a year sponsoring a basketball team in which he has a 20 per cent stake. Sir Fred Goodwin got a bum deal by comparison.
- 1 Howard Jacobson: Let's see the 'criticism' of Israel for what it really is
- 3 Belgium fan Axelle Despiegelaere lands L'Oreal campaign after World Cup viral photo
- 4 Britney Spears sings 'Alien' without Auto-Tune in embarrassingly brilliant leaked audio clip
- 5 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
‘Ryan Gosling got someone pregnant and it's not me. Brazil you think you’re devastated…’
Israel-Palestine crisis: ‘We just want it to end… We don’t deserve to live like this’
Israel-Palestine crisis: Eight killed in Gaza Strip cafe while watching World Cup semi-final
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
There’s a nasty smell in the political air – and it’s coming from the Tories
Vanessa Feltz criticises 'vile' reaction to Rolf Harris allegations
iJobs Money & Business
£60000 - £75000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£60000 per annum: Harrington Starr: A leading provider in investment managemen...
£600 - £700 per day: Harrington Starr: AVS, JVS Openlink Endur Developer JVS, ...
£30000 per annum: Harrington Starr: A global leader in trading platforms and e...